Saudi Aramco said on Wednesday it was joining the World Bank’s initiative to reduce gas flaring to zero by 2030, and said its flaring was already less than 1% of its total raw gas production in the first half of 2019, Reuters reports.
France and Saudi Arabia have announced a "major partnership" to develop the area of Al-Ula, a historic site in the Kingdom that is part of its push to bring in tourists and open the Kingdom up to investment.
Saudi Arabia announced a new tourist visa scheme on Friday that will see the Kingdom open up to international leisure travelers for the first time, a historic milestone in a broader push to diversify and modernize its economy and society.
Saudi Arabia is reportedly expanding the reach of its $28b Saudi Industrial Development Fund (SIDF) to allow the financing of energy, logistics and mining projects as part of broader efforts to develop the kingdom’s industries.
Saudi Arabian flag-carrier Saudia announced at the Paris Airshow that is expanding its existing order of Airbus A320neo family of plans from the current number of 35 "to as many as 100, including 35 options," according to reports.
The Saudi Ports Authority says it aims to reduce container time at its ports to three days by 2020 while simultaneously pushing for more than double handling by 2030, according to the Saudi Press Agency and other reports.
Saudi Arabia's Minister of Housing Majed al-Hogail said he expects investments in the real estate financing sector to reach between 60 billion Saudi riyals and 80 billion riyals ($21.33 billion) in 2019, according to Reuters on the sidelines of a housing conference in Riyadh.